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MPC votes to hold base rate and QE


The Bank of England’s Monetary Policy Committee has again voted to keep the base rate at 0.5 per cent with quantitative easing remaining at £375bn.

Base rate has remained at current levels since March 2009 when the MPC first voted to cut rates to record-lows in a bid to help stimulate the economy. On the same day the MPC launched its programme of quantitative easing. 

The quantitative easing programme was increased by £50bn to £375bn in July 2012 though the committee has voted in factions since then with some members, including former governor Mervyn King, voting in favour of a further increase to the programme.

However, at last month’s MPC meeting – new governor Mark Carney’s first – the MPC voted unanimously to hold quantitative easing at £375bn and base rate at 0.5 per cent.


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